NetSuite Unveils New Capabilities in Financials, Inventory Management, Analytics

New automation, insights and efficiency capabilities enhance financial, inventory and operational management for organizations of all sizes.

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Oracle Netsuite

AUSTIN, TX β€” To help organizations adapt to change and take advantage of increasing growth opportunities, Oracle NetSuite announced Tuesday a series of new innovations within NetSuite. The latest updates to NetSuite further streamline and enhance financial, inventory and operational management with the addition of powerful new automation, insights and efficiency capabilities.

β€œAll organizations have gone through seismic changes and while obstacles remain, opportunities are growing,” said Evan Goldberg, EVP of Oracle NetSuite. β€œWe want to give our customers the tools needed to embrace these opportunities with confidence and optimism. The latest updates to the NetSuite platform enhance the financial, inventory management, automation, and analytics capabilities so that our customers can maximize operational performance and accelerate growth.”

These latest innovations within NetSuite include:

Oracle Net Suite VertSmart Financials and Operational Automation

  • Centralized Purchasing and Billing: Improves spend management, increases productivity, and reduces PO volume by consolidating purchases across multi-subsidiary organizations, generating vendor payments from a single location, and automating cross-charges.
  •  SuiteApprovals Email Approval: Enables organizations to simply click an email link to review, approve or reject transactions. In addition, an email approval log is available so that all approvals can be reviewed and audited before they are updated in the system.
  • SuiteCommerce: Allows organizations to manage pages and content on their SuiteCommerce webstores in different languages within a single place, making global expansion easier and eliminating the need to purchase a different website per language. Users can now quickly add a full featured blog to the SuiteCommerce site to help increase SEO, drive webstore traffic, improve time spent on site and reduce the cost of inbound marketing.

Automated Inventory Management

  • Pack Station: The touchscreen interface simplifies and increases the efficiency and accuracy of the packing process, while new functionality enables orders with the same shipping routes to be grouped together so they can be packed together. The feature also adds an extra layer of verification before orders ship to help prevent customer issues and avoid the added costs of reshipping.
  • Warehouse Management System (WMS): New WMS capabilities allow organizations to enhance wave picking, tally scans, cart put-away, and label printing. With the new capabilities, picking waves can now be organized by delivery times and shipping address, while wave automation enhancements enable organizations to take advantage of off-peak processing.

Analytics and Insights

  •  SuiteAnalytics: Users can add calculated fields on aggregated columns in a workbook allowing them to gain real-time insights tailored to their business. Conditional formatting has been added as well, allowing for customized highlighting of values to notify users of the data that is most in need of their attention. Native language support for SuiteAnalytics Workbooks is now available so that users can analyze and explore company data and workbooks in their language of choice.
  •  SuitePeople Performance Management: Eight new interactive charts with SuiteAnalytics Workbooks provide HR leaders visibility into how groups of employees or individuals are performing. A new goals portlet has also been added so goals are more visible to employees, helping them stay focused and engaged, and managers can easily view how employees are tracking to set goals. 

For more information on the latest updates, or to learn about other resources for growing businesses, tune into NetSuite On Air Power Up, a new virtual event series taking place April 13-15.

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